M&A Deal Summary

J.F. Lehman & Company and W Capital Partners Acquire Ravn Air

On August 3, 2015, private equity firm J.F. Lehman & Company and secondary investor W Capital Partners acquired airliner Ravn Air

Acquisition Highlights
  • This is J.F. Lehman & Company’s 1st and W Capital Partners’ 1st transaction in the Airlines sector.
  • This is J.F. Lehman & Company’s 22nd and W Capital Partners’ 17th transaction in the United States.
  • This is J.F. Lehman & Company’s 1st and W Capital Partners’ 1st transaction in Alaska.
Investment Fate
  • Ravn Air went bankrupt in 2020.

M&A Deal Summary

Date 2015-08-03
Target Ravn Air
Sector Airlines
Buyer(s) J.F. Lehman & Company
W Capital Partners
Deal Type Recapitalization
Advisor(s) Headwaters MB (Financial)

Target

Ravn Air

Anchorage, Alaska, United States
website
Ravn Air is a provider of regional air transportation and logistics services in the state of Alaska. Ravn Air is based in Anchorage, Alaska.

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Buyer(S) 2

Buyer

J.F. Lehman & Company

New York, New York, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1992
PE ASSETS 900M USD
Size Middle-Market
Type Sector Focused
DESCRIPTION

JF Lehman is a specialist private equity firm that targets investments in the defense, aerospace and maritime industries. JF Lehman looks for lower middle-market company opportunities with established products but that not may not be realizing their full potential. The Firm will only consider control based investment situations. J.F. Lehman was formed in 1992 and has offices in New York, London, and Washington DC.


DEAL STATS #
Overall 24 of 45
Sector (Airlines) 1 of 1
Type (Recapitalization) 2 of 3
State (Alaska) 1 of 1
Country (United States) 22 of 41
Year (2015) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-05-14 Sprint Energy Services

Kenedy, Texas, United States

Sprint is a provider of specialized, technical environmental services to the upstream energy industry.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-02-29 API Technologies

Marlborough, Massachusetts, United States

API Technologies is a designer and manufacturer of high-performance components and subsystems for demanding RF / microwave and electromagnetic spectrum management applications. API Technologies Corp. provides a broad portfolio of mission-critical products to approximately 1,800 global customers supporting more than 200 programs. API Technologies is headquartered in Marlborough, Massachusetts.

Buy -
Buyer

W Capital Partners

Investor Investor Investor Investor Investor

website


Category Secondary Investor
Founded 2001
PE ASSETS 3.0B USD
Size Large
Type Sector Agnostic
DESCRIPTION

W Capital Partners is a private investment group focused on direct secondary investments. W Capital Partners has a particular interest in growth equity secondary investments as well as buyout minority secondary investments, where existing shareholders are looking for liquidity. W Capital Partners is based in New York City.


DEAL STATS #
Overall 17 of 20
Sector (Airlines) 1 of 1
Type (Recapitalization) 3 of 3
State (Alaska) 1 of 1
Country (United States) 17 of 20
Year (2015) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-06-18 MindBody

San Luis Obispo, California, United States

MindBody is a technology platform for the fitness, beauty and wellness services industries. Local entrepreneurs worldwide use MINDBODY’s integrated software and payments platform to run, market and build their businesses. Consumers use MINDBODY to more easily find, engage and transact with fitness, wellness and beauty providers in their local communities. MindBody was formed in 2001 and is based in San Luis Obispo, California.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-10-15 First Data

Atlanta, Georgia, United States

First Data is a provider of electronic commerce and payment solutions for merchants, financial institutions and card issuers. First Data was formed in 1989 and is based in Atlanta, Georgia.

Sell -